Many Icelandic artists participated in this art show of entirely Icelandic artists. The art show's purpose was to introduce Icelandic art to Americans working and living on the U.S. Navy Base. Because the U.S. government closed the base in September of 2006, this was the last annual art show.

However the Keflavík show was seen by a U.S. gallery, is now called Fire and Ice and it is on exhibition in the U.S.